Yield Enthusiasts Rush to HyperLiquid Staking to Capture Kintetiq’s Airdrop

Total value locked on Kinetiq has surged from $458 million in mid-July to over $2.1 billion today. This significant jump can be attributed to a 20% rise in the price of HYPE and an influx of new deposits.

Key Points:

• Kinetiq, a liquid staking protocol built around Hyperliquid’s HYPE token, has experienced a remarkable acceleration in inflows recently as users engage in its airdrop points campaign.
• The total value locked (TVL) has risen sharply, reflecting increasing user confidence.
• A notable contributor to this growth is the number of HYPE tokens staked, which climbed from under 10 million in July to nearly 40 million now.

Background

Kinetiq’s points program, which was launched in mid-July, has successfully driven engagement within its ecosystem. As liquidity, trading activity, and staking demand continue to flow into Hyperliquid, the platform establishes itself as a frontrunner in DeFi.

The integration of points programs proves appealing, enticing yield-hungry investors to join the staking movement with the dual promise of standard staking rewards and potential future token allocations through Kinetiq.

Yield Hunters Flock to HyperLiquid Yield Hunters Flock to HyperLiquid (James Baltz/Unsplash)